The Author of an Economics Book Has Trouble Deciding Whether

question 114

Essay

The author of an economics book has trouble deciding whether to use the words ʺheʺ or ʺsheʺ in the bookʹsexamples. To solve the problem, the author flips a coin each time the problem arises. If a head shows, theauthor uses ʺheʺ and if a tail shows, the author uses ʺsheʺ. If this problem occurs 100 times in the book, what isthe probability that ʺsheʺ will be used 58 times?

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Definitions:

Assent

Agreement or approval, typically given willingly by a person who possesses the capacity to form intent.

Unilateral Mistake

An error made by only one party in a contract that does not necessarily invalidate the agreement, but may be grounds for its rescission if certain conditions are met.

Invalidate

To make something legally void or ineffective, often by showing it was improperly formed or does not comply with necessary legal requirements.

Contract

A legally enforceable agreement between two or more parties, typically involving the exchange of goods, services, money, or promises.